Why Discovery Shares Are Rising Today

Discovery Inc DISCA is trading higher Friday following bullish analyst coverage from BofA Securities.

BofA Securities analyst Jessica Relf Ehrlich upgraded Discovery from a Neutral rating to a Buy rating and raised the price target from $34 to $45.

Ehrlich believes the company's merger with WarnerMedia could potentially create a "global media powerhouse" driven by creative and content leadership.

The BofA Securities analyst also pointed to the stock's risk/reward profile, calling it "extremely favorable" at current levels.

Discovery is one of the largest global media providers with over 2 billion cumulative subscribers in over 220 countries.

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DISCA Price Action: Discovery has traded as low as $21.65 and as high as $78.14 over a 52-week period.

The stock was up 13.3% at $29.11 at time of publication.